Lil Wayne has officially filed suit against Cash Money, and his accusations are making the label that Birdman (and a gang of Hot Boys) built look funny in the light.
There’s is plenty more to Weezy’s suit than just a demand for $51 million and/or his walking papers.
Here are some eye-opening facts/claims from the 21-page (actually, 19) lawsuit that you should make note of and pass along to any rapper thinking about inking a record contract.
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Photo: WENN.com
Weezy Only Owns 49% of Young Money
Cash Money owns the rest, meaning the label gets most of the profits from acts like Drake and Nicki Minaj.
Tunechi Had To Get Permission From Cash Money To Sign Acts
Wayne had to clear all signed to Young Money with Cash Money first. It’s a joint after all. However, Cash Money is technically YM’s distributor.
Also, Weezy claims the label has been sued because Cash Money was slow to or didn’t sign acts he wanted on Young Money.
After Just 5 Years, Trouble Started Brewing
Wayne and Cash Money weren’t seeing eye to eye and 2003 and the agreement was amended. There are no specifics, but there is mention of a “settlement.” Not coincidentally, 2003 is when Young Money officially established.
The disputes were clearly about money. A 2006 amendment to Weezy’s recording track saw that he was granted more advance money for his albums. Mind you, this is only money leveraged against his future sales. It also meant album with Baby (see: Like Father, Like Son)
In 2008, Weezy was trying to really establish Young Money as his own, which meant making sure he got accounting where all the money was going. He also signed Drake during this period.
Sorry J Prince, Drake Is Paying Aspire Records
Jas Prince wasn’t kidding when he said he got looped out of Drake’s deal. When Drizzy signed to Young Money, it’s noted that some of the profits from his work go to Aspire Records, which is owned by Lil Wayne’s manager, Cortez Bryant. Prince alleges that Bryant used the label to ex him out of the proceeds.
$10 Million Man
In 2012, Cash Money agreed to pay Lil Wayne an advance of $10 MILLION per album. Per. Album. Bruh…
Show Me The Receipts
Part of the numerous amendments to Wayne’s recording contracts required that Cash Money provided a monthly accounting of all the money spent and provided money for overhead expenses. Since at least 2013, that didn’t happen.
photo: WENN
Wait, How Much Money Has Drake Made?
Weezy claims that Cash Money has never revealed exactly how much dough Drake has made Cash Money. That would make figuring out how much loot Young Money is actually due rather difficult, no?
Actually, How Much Money Did Lil Wayne Make Cash Money?
Lil Wayne claims that despite requests to, he has never gotten a proper accounting of how much money his recordings made Cash Money Records. Also, he’s not sure how much Young Money has made either. SMH.
Breach Of Contract
Lil Wayne believes that buy Cash Money not paying him (along with all the allegations), they have breached their contract. Therefore he wants to walk. Or, they can pay him…$51 million.
